0044 GMT - Xero's ability to attract new users isn't clear to Jefferies analysts. The investment bank's survey of the accounting-software provider's existing users suggests that churn is not an issue, they say. Customers are satisfied with the product, and subscription pricing looks to be their main concern, the analysts write in a note. They are less convinced about Xero's growth prospects, especially in the U.S. Rival Intuit has been investing in AI for eight years, while Xero is up against six well-known competitors vying for market share, they note. Positively, Xero's acquisition of Melio has made it more appealing to Intuit customers. Jefferies raises the target price by 5% to A$86.80 and keeps a hold rating on the stock, which is up 0.6% at A$82.665. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 20, 2026 20:44 ET (00:44 GMT)

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